U.S. Optimistic on China Trade Talks

China’s Foreign Ministry says the nation has “good faith” to resolve trade issues with the United States. Talks has begun in Beijing as the two nations look to end the trade war.

On Monday, U.S. Commerce Secretary Wilbur Ross said talks were being held with appropriate-level staff and would help determine how the administration moves forward. Ross also said he saw “a very good chance that we will get a reasonable settlement that China can live with,” according to Reuters.

The U.S. delegation in Beijing, led by Deputy U.S. Trade Representative Jeffrey Gerrish, includes officials from the departments of Agriculture, Commerce, Energy, and Treasury, and senior White House officials.

An end to the trade war could further reopen China to U.S. commodities, including soybeans. China’s tariffs on soybeans stalled purchases until a recent agreement restarted some buys of U.S. soybeans by China.